As businesses adopt AI en masse, many analysts have wondered what its long-term effects will be on the workforce of tomorrow. With AI changing the nature of work—especially for those who are on the lower rungs of the career ladder—what happens in 15 to 20 years, when people with today’s entry level jobs begin transitioning to leadership? And more urgently, how is AI transforming what today’s senior and mid-level managers will need to know as they look to future C-suite jobs?

Brian Meegan, a partner at M&A law firm Kupfer, has been examining how to keep a sturdy succession path as AI continues to revolutionize today’s workplace. While the days of entry-level employees learning about a company through meticulous, hands-on grunt work may be coming to a close, there are still ways to keep knowledge transfer alive, and give all workers the experience they need. An excerpt from our conversation is later in this newsletter.

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The economic impact of the war in Iran is becoming more clear in terms of actual numbers and trends, and none of it is positive. In just one month, inflation rose by almost a full percentage point, lifted by the largest single-month increase in energy prices in decades. According to the Bureau of Labor Statistics, March’s consumer prices were 3.3% higher than a year ago—and 0.9% higher than in February. The main factor in last month’s higher inflation is the war—annual inflation in February was actually on the decline, based on the core consumption expenditures index.

Consumers are feeling the pain in many ways, with the University of Michigan’s consumer sentiment survey hitting an all-time low of 47.6 in April. And it’s all about the war’s impact on their finances again—respondents said they expect prices to increase 4.8% in the next year, and their assessment of personal finances dropped 11%.

The weekend, with its failed peace talks, attacks on the Pope, and new military blockades, didn’t help much. Wall Street opened down on Monday morning. By midday, the major indexes were fairly flat.

The falling economic indicators could usher in one positive: According to minutes released last week from March’s Federal Reserve Open Market Committee meeting, some members think that the war in Iran may continue to disrupt the economy significantly enough that an interest........

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